The view put forward in this paper is that the index-linking of long-term public debt today represents a financial instrument that fosters a low average rate of inflation. In particular, bonds that are fully linked to the prices of a representative basket of goods and services permit a reduction...

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The Basel Agreements, designed to pursue financial stability, have been instead a cause of instability, revealing fundamental analytical and operational weaknesses. The idea to define a constant capital ratio through complex statistical models implies serious dangers. A radical change is...